Trade associations thank Congress for Working Families Tax Cut Act
About 100 trade associations sent a letter Monday thanking lawmakers for enacting the Working Families Tax Cut Act last year.
“This legislation demonstrates that Congress stands with the businesses that form the backbone of our nation’s economy,” the letter says. “Absent action, employers and workers would have faced the single largest tax increase in the nation’s history. This tax hike would have fallen disproportionately on the 95% of American businesses organized as pass-through entities — S corporations, partnerships, and sole proprietorships. These businesses employ 63% of private sector workers, and they contribute the majority of business income to our national economy.”
The act made permanent lower marginal rates for business and Section 199A, the letter says. It adds that those were critical in preserving rate parity by allowing pass-through businesses to compete on a more equal playing field with larger C corporation competitors.
“The Working Families Tax Cut Act also revived a number of pro-investment, pro-growth reforms that will have lasting benefits,” the letter says. “Restoring 100 percent bonus depreciation, reinstating full expensing for research and experimentation costs, and easing interest expense caps all encourage the capital formation necessary to modernize, expand, and create jobs.”
These provisions represent a generational victory for millions of business owners, the letter says.
Those that signed the letter include the Society of Collision Repair Specialists (SCRS) and the Specialty Equipment Market Association (SEMA).
The letter points to a 2025 Winston Group survey conducted for the S Corporation Association that found voters understand that higher taxes on businesses would raise costs for consumers.
It found that 70% of the country believed that if companies pay more in taxes, those costs will be passed on to consumers in higher prices.
The survey also found that the maximum tax rate voters thought that businesses should pay was 15.63%, while wealthy individuals should pay more at 35%.
An email from the S-Corporation announcing the letter noted that the benefits of the act are “already flowing through the economy, but they need to be clearly communicated and reinforced.”
It says that it includes hearing directly from the business owners and workers who are seeing the impact firsthand.
The Main Street Employees Coalition has launched a dedicated page to collect stories, testimonies, and real-world examples of how the policies are working, the email said.
Anyone interested in submitting their comments can share their experience here.
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